Car insurance calculator: How we calculate your premiums

 

Are you shopping around for affordable car insurance? Using an online car insurance calculator can be useful for getting an overview of different car insurance options from various insurance providers. But a calculator might not show you results that are tailored specifically to you and your vehicle. 

At OUTsurance, our call centre advisors are expertly trained to calculate the cost of your car insurance based on your unique profile. Just think of your OUTsurance advisor as your very own car insurance calculator! They won't make assumptions about you, your car or your insurance requirements. Instead, they'll take the time to really get to know you, so that your premium is matched to you, and you alone. 

Here are some of the factors we take into account when calculating the cost of your car insurance: 
Good claims history:

When you insure your car, you have peace of mind knowing you're protected against larger incidents, accidents, or theft. But it’s best to avoid claiming from insurance every time your car has a little bump or scratch. This is because it’s likely that your monthly premium will be higher if you’ve claimed a lot in the past. When you have a minor accident or incident, you might want to consider getting your car fixed yourself.

A healthy credit rating:

An online car insurance calculator probably won't take your credit history into account, but it's an important factor to consider. A good credit history acts as an indication that you’re on top of your financial obligations. This could help you insure your vehicle for less, because it shows an insurance company that you’re more likely to stay up to date with your monthly car insurance payments.

Age:

A less experienced driver is likely to pay more for car insurance than a more experienced driver. In fact, pensioners can save a lot on insurance because on average they drive the least. That’s why it’s important to regularly ask for new car insurance quotes, so you can review the insurance cover that you have. You might find that your car insurance cost is lower as you get older. 

Good security:

You could have the exact same car as your friend and end up paying less for car insurance. One of the reasons for this is that we factor in your security at home and work, to see how much protection you have against vehicle theft. If you park your car in a locked garage at home and in a secure office car park at work, your premiums will likely be lower. But a driver who parks on the street may end up paying more. This is why it’s important to tell your insurer about any anti-theft measures you have in place, such as alarm systems or electric fencing.

Driving behaviour:

We strive to cater your insurance to your specific needs. So, if you don’t drive your vehicle much, you’ll pay less than those who drive a lot. For example, a stay-at-home parent will pay less than a sales rep who drives to visit clients all day. We also offer an innovative product, SmartDrive, which gives you a 10% discount on your insurance, just for sharing your good driving behaviour via the OUTsurance app.

How to get the best possible price for car insurance 

When you take out insurance, we’ll ask you a series of questions. These include questions about the specifications of your car, how far you commute every day, whether you use your car for private purposes only, and even if you've completed advanced driving courses. 

One of the best ways to ensure you get the right car insurance at the right price is to give us detailed, honest answers. Remember to think of your OUTsurance advisor as your insurance calculator, and you want that calculator to be as accurate as possible!

And of course, it’s equally as important for you to feel free to ask us questions too. We pride ourselves on our best-in-class service, and one of our dedicated OUTsurance advisors is always just a phone call away.

Why OUT is better than in

Other car insurance companies may give you car insurance quotes based on assumptions about your risk profile. This may mean that you end up subsidising higher- risk clients when you may be a low-risk client.

At OUTsurance, you get a personalised premium based on facts. This means that we only take into account your personal risk factors, which could very well lead to you saving on your car insurance. 

Are you ready to see if you could be one of the thousands of happy clients who save on vehicle insurance every month? Get a quote today to get quality, comprehensive car insurance tailored specifically to your budget and your needs.  

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